Question 1

Which of the following terms refers to the monetary amount added to a product's cost to the seller in order to sell it at a target profit?

Accepted Answer

A)  Profit margin 
B)  Breakeven cost 
C)  Revenue 
D)  Revenue margin 
E)  Markup 
A)  Profit margin 
B)  Breakeven cost 
C)  Revenue 
D)  Revenue margin 
E)  Markup

Question 2

In additional to social networking and viral marketing, how do firms successfully increase brand awareness?

Accepted Answer

A)  Reintroduction 
B)  Globalization 
C)  Rebranding 
D)  Product placement 
E)  Packaging 
A)  Reintroduction 
B)  Globalization 
C)  Rebranding 
D)  Product placement 
E)  Packaging

Question 3

During what step of the product development stage does the firm consider how well a product or idea supports the firm's objectives?

Accepted Answer

A)  Screening 
B)  Concept testing 
C)  Prototype development 
D)  Benefits analysis 
E)  Product idea 
A)  Screening 
B)  Concept testing 
C)  Prototype development 
D)  Benefits analysis 
E)  Product idea

Question 4

The product life cycle describes the commercial life of services as well as goods.

Accepted Answer

A) True 
 B)False

Question 5

The only goal of determining prices is to maximize profit for the firm.

Accepted Answer

A) True 
 B)False

Question 6

Why is new product development expensive?

Accepted Answer

Mortality rates for new ideas are high,

Question 7

Which of the following costs refers specifically to those that change with the quantity of a product sold or produced?

Accepted Answer

A)  Annual costs 
B)  Variable costs 
C)  Fixed costs 
D)  Marginal costs 
E)  Market-adjusted costs 
A)  Annual costs 
B)  Variable costs 
C)  Fixed costs 
D)  Marginal costs 
E)  Market-adjusted costs

Question 8

Which of the following gives the correct formula for calculating markup percentage?

Accepted Answer

A)  Sales price/markup 
B)  Sales price/fixed costs 
C)  Fixed costs/variable costs 
D)  Markup/sales price 
E)  Sales price/variable costs 
A)  Sales price/markup 
B)  Sales price/fixed costs 
C)  Fixed costs/variable costs 
D)  Markup/sales price 
E)  Sales price/variable costs

Question 9

Discuss the difference between production items, expense items, and capital items.

Accepted Answer

Production items are goods or services t

Question 10

Why is speed to market so important?

Accepted Answer

According to the textbook, one study rep

Which of the following terms refers to the monetary amount added to a product's cost to the seller in order to sell it at a target profit?

In additional to social networking and viral marketing, how do firms successfully increase brand awareness?

During what step of the product development stage does the firm consider how well a product or idea supports the firm's objectives?

The product life cycle describes the commercial life of services as well as goods.

The only goal of determining prices is to maximize profit for the firm.

Why is new product development expensive?

Which of the following costs refers specifically to those that change with the quantity of a product sold or produced?

Which of the following gives the correct formula for calculating markup percentage?

Discuss the difference between production items, expense items, and capital items.

Why is speed to market so important?

The U.S. Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters

Exam 12: Developing and Pricing Products

Which of the following terms refers to the monetary amount added to a product's cost to the seller in order to sell it at a target profit?

In additional to social networking and viral marketing, how do firms successfully increase brand awareness?

During what step of the product development stage does the firm consider how well a product or idea supports the firm's objectives?

The product life cycle describes the commercial life of services as well as goods.

The only goal of determining prices is to maximize profit for the firm.

Why is new product development expensive?

Which of the following costs refers specifically to those that change with the quantity of a product sold or produced?

Which of the following gives the correct formula for calculating markup percentage?

Discuss the difference between production items, expense items, and capital items.

Why is speed to market so important?

The U.S. Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters